Is it illegal for a loan company to ask for a deposit of 30 thousand for a loan of 200 thousand
It is not illegal for a loan company to require a deposit of 30,000 for a loan of 200,000. According to the relevant information, the law does not stipulate that the guarantee company cannot collect the guarantee deposit. When an individual or enterprise of a guarantee company lends money to a bank, the bank does not lend money directly to the individual in order to reduce the risk. It requires the borrower to find a third party (guarantee company or qualified individual) to guarantee. The behavior of a guarantee company is a commercial behavior, and there is no mandatory provision for the transfer and operation of its funds. Legal basis: Article 387 of the Civil Code. Where a creditor needs security in order to ensure the realization of his creditor's rights in civil activities such as lending, buying and selling, he may establish a security interest in accordance with the provisions of this Law and other laws. If a third party provides a guarantee for the debtor to the creditor, it may require the debtor to provide a counter-guarantee. The provisions of this law and other laws shall apply to counter-guarantee.